Reply to For upper NW, how much over asking does one have to go these days?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This house in Friendship Heights just sold for $250k over list, somewhat shockingly: https://www.redfin.com/DC/Washington/5015-44th-St-NW-20016/home/9957162

Really do not understand the home prices in this neighborhood anymore (and I own a home here, so it's only good news for me, but it's still mind-boggling).[/quote]

That seems very high for this house.[/quote]

I wouldn’t say very high, but more than I’d expect given the square footage and the kitchen. Location is good. It must have escalated with multiple bidders.[/quote]

I live in this neighborhood and it’s ok - yes close to FH metro but it’s pretty dead retail/restaurant wise. This particular street is really close to western which gets backed up all the time and it’s a pain getting out of the neighborhood.  FT Bayard park is dead most of the time. I have not enjoyed living here as a parent of young children and plan to move somewhere more urban. But at least my house is much nicer on the inside and I can look forward to it selling well, based on this crazy price.

Hope the new owners love this house and stay in it for a while. It will probably pay off in that case, esp if FH ever manages to be a desirable retail center. Otherwise it will be a sad story of overpaying due to a bidding war. It’s not common but I’ve seen houses being sold way over asking in CCDC /CCMD and back on the market in a year or two and not being able to recoup what buyers originally paid after transaction fees. [/quote]

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